After making an investment in the e-commerce giant Snapdeal, Ratan Tata has made a personal investment in Bangalore based, online jewellery retailer Bluestone.com.
After making an investment in the e-commerce giant Snapdeal, Ratan Tata has made a personal investment in Bangalore based, online jewellery retailer Bluestone.com.
The chairman emeritus f Tata Sons, has signed up to fresh shares of the three year old, e-commerce player which sells jewellery online.
The amount of the funding has not been disclosed yet.
With this investment, Tata joins a list of investors and venture capitalist firms, which back the Bangalore based company founded in 2011, by an IIT alumni, Gaurav Singh Kushwaha. “An investment by Ratan Tata who has been at the helm of India’s most successful and respected conglomerate is a validation of our approach in building an innovative brand that is disrupting the jewellery market”, Kushwaha quoted on the occasion of funding.
The company aims to give a new dimension to jewellery shopping, catering to the trendy and evolved Indian consumerism, by providing access to a large variety of carefully prepared designs by jewellery experts fused with excellent artistry.
3 years into the online jewellery retail business, Bluestone has its own manufacturing unit, which allows the company to manufacture the orders placed and, therefore nil inventory costs on the products.
Bluestone targets the modern Indian woman aged between 20 to 50 years, with contemporary designs and a huge selection. If not satisfied, the customer also has the choice of getting a jewellery designed according to her own will.
Bluestone.com is the second most preferred website for online jewellery buying, as there are not many contemporaies in the market as of now, the only one being Caratlane.com.
The investment made by the Tata Group chairman, comes not late after he made an investment in the e-commerce giant Snapdeal.com. His investment in the online jewellery store has grabbed the attention of a number of contemporaries, considering that the Tata group has its own store of jewellery retail, Tanishq.
Looking at the way, Mr. Tata has been investing personally in newly started enterprises, it can be concluded that, he is promoting entrepreneurship in India.
